IREDA and RUMSL Sign Agreement for Large-Scale Solar Parks in Madhya Pradesh (Download PDF)

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Indian Renewable Energy Development Agency Limited (IREDA) and Rewa Ultra Mega Solar Limited (RUMSL) signed an agreement for financing the shared infrastructure of two large Solar Parks in Madhya Pradesh.

Map of two large Solar Parks in Madhya Pradesh

Map of Two Large Solar Parks in Madhya Pradesh

Map of two large Solar Parks in Madhya Pradesh

The two solar parks to be supported under the World Bank Funding Scheme are the

  • 750 MW Rewa Ultra-Mega Solar Park

  • 250 MW Mandsaur Solar Park in Madhya Pradesh.

In addition, other states where potential solar parks could be supported under this project are in Odisha, Chhattisgarh, and Haryana.

The proposal creates common infrastructure for ultra-mega solar parks in India to achieve the 100 GW solar capacity addition target by 2022.

World Bank and IREDA

Under the World Bank Line of Credit, IREDA has sanctioned its first loan of Rs. 210.62 Cr. to RUMSL to finance two such solar parks in the state of Madhya Pradesh.

What is ISA?

  • The International Solar Alliance is an alliance of more than 121 countries, most of them being sunshine countries, which lie either completely or partly between the Tropic of Cancer and the Tropic of Capricorn.

  • The International Solar Alliance (ISA) will try to finalize 121 solar projects in the next three months, which will then allow banks to fund these projects.

  • ISA has a target of mobilizing $1, 000 billion for its 121 members by 2030.

Background

  • In November 2017, the Government of India and the World Bank signed a US $98 million Loan Agreement and US $2 million Grant Agreement to help India increase its power generation capacity through cleaner, renewable energy sources.

  • This Project aimed to establish upcoming large-scale solar parks and support the government’s plan to install 100 gigawatts (GW) of solar power.

  • The fund will develop the common infrastructure such as power pooling substations, intra-park transmission infrastructure and provide access to roads, water supply, and drainage, among others.

- Published/Last Modified on: March 19, 2018

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